Accrue real estate Melbourne

hi given I'm inexperienced in property investment, I've considered working with Accrue Real Estate. They find off market properties that fit a combination of criteria, which they believe make a good investment. Has anybody worked with them, or know anything about them?

 

I suggest you start by doing a Google search about the company

And any property promoting website or advertorial that starts with 'We are not property spruikers..............yadda yadda yadda' - well they're a red flag for me.

pinkboy

 

Their website is fairly vague. What do they actually do?
- Buyers agent where you pay a flat fee to find a property? - This is good, keep investigating.
- Promoting off the plan or new properties and getting paid by developers - Terrible, run away.

 

Everyone buys their first few IP's with little to no 'experience'.

If your talking about 'lacking knowledge' then why don't you spend a few months to learn and get the knowledge/make the contacts.

Relying completely on any company or any other person is never going to ever, ever, ever make you wealthy (if that's the goal).

Only you can.

My two cents.

 

I signed up with and bought a property through Accrue Real Estate. Here's what I'll say - its a mixed bag. They get full marks for being attentive and courteous, and they do their research. The property we bought through them was pretty good and is yielding results.

They aren't so hot on the finance side of things, (which they outsource), so before buying anything I would strongly recommend you find yourself a good accountant/mortgage broker, get them to crunch the numbers and make sure that what Accrue say will happen actually will happen. We ran into a pretty big cash flow problem, and when we took our concerns back to Accrue they were genuinely sympathetic but offered no real solution. Once we took matters into our own hands, we found a way to move forward.

My overall impression is that they are essentially salesmen, but to give them their credit, they are very good at locating properties. But definitely get a second opinion with the finances.

 

Just curious Jamie, which suburb did you end up buying in? Was it an existing house?

 

It was a new townhouse in Airport West. I’ve had it independently appraised as a solid if not very exciting investment.

 

Be careful you don't over pay.

Know of a guy who bought off the plan in good suburb close to train, bank val on completion was 10% lower than contract.

So be sure to compare comparable sales so you don't over pay.

Also use your own finance person and conveyancer.